The U.S. average retail price of regular gasoline decreased one cent to $3.63 per gallon as of August 5, 2013, one cent lower than last year at this time and below the year-ago price for the first time since May 2013, according to the Aug. 7 issue of This Week in Petroleum, published by the Energy Information Administration (EIA).
Prices decreased in all regions except the Midwest, where the price increased one cent to $3.59 per gallon. The largest decrease came on the West Coast, where the price fell four cents to $3.89 per gallon. The Gulf Coast price is $3.45 per gallon, three cents lower than last week. On the East Coast, the price dropped two cents to $3.63 per gallon. Rounding out the regions, the Rocky Mountain price declined less than a penny to remain at $3.64 per gallon.
The national average diesel fuel price decreased one cent to $3.91 per gallon, six cents higher than last year at this time. Prices increased less than a penny on the West Coast to remain at $4.05 per gallon and two cents in the Rocky Mountains to $3.93 per gallon, while decreasing in all other regions. The East Coast and Midwest prices both decreased one cent, to $3.92 per gallon and $3.88 per gallon, respectively. The Gulf Coast price declined less than one cent to $3.84 per gallon.
Total U.S. inventories of propane increased 0.5 million barrels from last week to end at 61.8 million barrels, but are 6.2 million barrels (9.2 percent) lower than the same period a year ago. Gulf Coast inventories gained by 1.2 million barrels, while those in all other regions declined. East Coast stocks dropped by 0.4 million barrels, while Midwest stocks decreased by 0.2 million barrels. Rocky Mountain/West Coast inventories declined by 0.1 million barrels. Propylene non-fuel-use inventories represented 5.1 percent of total propane inventories.
